Insuring Competition Horses

Not insured... As everyone says - it's a gamble. Have previously had two horses covered, both times think the insurance company did worse than us. F was insured for £10k (more than we paid for him, but he was advanced by the time we decided to insure him), the works, that cost about £1200per annum I think. They paid for all the investigations and LOU, but only 60% as we didn't have him pts. Current two were cheap, if something major happened to them would def consider bullet in our options.
 
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Some good friends of mine lost their horse in a road accident a couple of years ago. The van drivers employers eventually accepted liability but are refusuing to pay the full amount that the horse was valued at. The advice that my friends are now receiving is to accept whats on offer (about 50%) as because the horse was under insured the courts are highly unlikely to find in my friends favour. The reason the horse was not insured for its full worth was of course the high premiums which like most of us they couldn't afford.
This is the downside of under insuring - in the event of a tragic accident like this one with liability being accepted by a third party THEIR insurers are only going to want to pay out the amount that the horse was insured for (whether it was with them or another company) not what it was worth, and it would appear that the courts agree with that stance.
 
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This is the downside of under insuring - in the event of a tragic accident like this one with liability being accepted by a third party THEIR insurers are only going to want to pay out the amount that the horse was insured for (whether it was with them or another company) not what it was worth, and it would appear that the courts agree with that stance.


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Surely if we reverse that logic and you fall off a horse without rider accident insurance you should not attempt to sue for damages?
 
My horse is insured for what I paid for him, which is currently about 1/4 of what he is worth, I cannot afford to up his value with the insurance.

I do however, have 59% discount from my vets cos I work there!
 
What about me PG?
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Dol was never insured for her true value, we would have spent more on premiums than we ever did on verts fees.
So she was insured for low costs, such as some vets bills etc.
The new one wil not be insured for its true value either, total waste of money, unless of course you lose them!
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